Work is taking place to target financial support at those most in need following today’s announcement by Manx Gas that tariffs will rise further from Thursday 1 September 2022.
Chief Minister Alfred Cannan MHK said:
‘We are facing severe energy pricing fluctuations and this most recent rise in gas prices will undoubtedly lead to concern among many in our community. The Isle of Man Government is taking this situation extremely seriously and is acutely aware of the looming challenges facing families and businesses this winter.
‘I wish to reassure people that work is taking place to understand how support can be targeted to best protect the community through this period of significant economic turbulence.’
Treasury Minister Dr Alex Allinson MHK said:
‘We have been closely monitoring the inflationary pressures on the cost of living for individuals and businesses throughout the year, with the expectation that further support would be required as we approached autumn and winter.
‘Government has already provided support packages totalling more than £6.3 million during the first six months of 2022.
‘Treasury is currently working on a range of options for more targeted support to help those most affected by the rise in energy costs and these will be announced at the October sitting of Tynwald.’